CRISPR Therapeutics (NASDAQ:CRSP) Price Target Cut to $81.00 by Analysts at Needham & Company LLC

CRISPR Therapeutics (NASDAQ:CRSP - Free Report) had its price objective reduced by Needham & Company LLC from $84.00 to $81.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Chardan Capital decreased their price objective on shares of CRISPR Therapeutics from $84.00 to $82.00 and set a "buy" rating on the stock in a research report on Wednesday. Morgan Stanley increased their price target on shares of CRISPR Therapeutics from $30.00 to $32.00 and gave the stock an "underweight" rating in a report on Friday, February 14th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of CRISPR Therapeutics in a report on Wednesday, February 19th. Bank of America reduced their target price on CRISPR Therapeutics from $98.00 to $85.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Finally, Evercore ISI raised CRISPR Therapeutics from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $60.00 to $99.00 in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, CRISPR Therapeutics presently has a consensus rating of "Hold" and an average target price of $71.58.

CRISPR Therapeutics Trading Down 1.4 %

Shares of CRSP stock traded down $0.52 during trading hours on Wednesday, reaching $35.62. The stock had a trading volume of 1,737,782 shares, compared to its average volume of 1,669,274. The stock's fifty day simple moving average is $38.15 and its 200 day simple moving average is $42.77. The firm has a market capitalization of $3.08 billion, a PE ratio of -8.15 and a beta of 1.88. CRISPR Therapeutics has a 12 month low of $30.04 and a 12 month high of $67.88.

CRISPR Therapeutics (NASDAQ:CRSP - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.31). CRISPR Therapeutics had a negative net margin of 981.54% and a negative return on equity of 18.46%. During the same quarter in the prior year, the company earned ($1.43) earnings per share. The company's revenue for the quarter was up 71.6% compared to the same quarter last year. As a group, equities research analysts anticipate that CRISPR Therapeutics will post -5.16 EPS for the current fiscal year.

Insider Activity at CRISPR Therapeutics

In other news, CEO Samarth Kulkarni sold 18,360 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $55.20, for a total value of $1,013,472.00. Following the completion of the sale, the chief executive officer now directly owns 171,613 shares of the company's stock, valued at approximately $9,473,037.60. This trade represents a 9.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Julianne Bruno sold 1,198 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $42.42, for a total transaction of $50,819.16. Following the transaction, the chief operating officer now owns 8,263 shares in the company, valued at $350,516.46. This represents a 12.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,381 shares of company stock worth $1,608,243 over the last quarter. Corporate insiders own 4.30% of the company's stock.

Institutional Investors Weigh In On CRISPR Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC bought a new stake in shares of CRISPR Therapeutics during the 4th quarter valued at $30,000. Costello Asset Management INC purchased a new position in CRISPR Therapeutics during the 1st quarter valued at about $27,000. Wilmington Savings Fund Society FSB bought a new stake in CRISPR Therapeutics during the third quarter worth about $40,000. Ameriflex Group Inc. purchased a new stake in CRISPR Therapeutics in the fourth quarter worth about $36,000. Finally, Highline Wealth Partners LLC bought a new position in shares of CRISPR Therapeutics during the fourth quarter valued at approximately $39,000. 69.20% of the stock is owned by hedge funds and other institutional investors.

About CRISPR Therapeutics

CRISPR Therapeutics is a gene-editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene-editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases.